EURUSD 4H Analysis. 29th June 2021
EURUSD Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: EU is looking very bearish in Daily and 4H after 2 weeks ago FOMC meeting where USD gained strength
Right now, EU is moving slow but if we use fibs level in 4H tf, we could see it rejecting the 38.2% level which could be a good sign the trend will continue to the downside. But, for me personally, i'll consider EU to break minor support level around 1.19000-1.19100, retest, then we could have a trade with good RRR.
Trade scenario 2: We can spot that the minor support level is holding strong from Wednesday last week, so as long as it doesn't break below that level, we could take a Buy short term to 61.8% fib level or just wait there to take Sell position.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: EU is looking very bearish in Daily and 4H after 2 weeks ago FOMC meeting where USD gained strength
Right now, EU is moving slow but if we use fibs level in 4H tf, we could see it rejecting the 38.2% level which could be a good sign the trend will continue to the downside. But, for me personally, i'll consider EU to break minor support level around 1.19000-1.19100, retest, then we could have a trade with good RRR.
Trade scenario 2: We can spot that the minor support level is holding strong from Wednesday last week, so as long as it doesn't break below that level, we could take a Buy short term to 61.8% fib level or just wait there to take Sell position.
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